Bullish prospects for the Brazilian real and Mexican peso – Credit Suisse USDMXN USDBRL Banks
“We remain bullish on BRL and MXN, in line with our Q2 targets of 4.50 in USD/BRL 19.55 in USD/MXN.”
“Relatively benign levels of implied vols suggest MXN could be vulnerable in the event of sudden progress in electricity reform efforts. Our base case nevertheless remains that risks of a rapid change in the law’s prospects are limited at this point.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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